When it comes to retirement we usually hear “save more.” While this may be the solution for most people’s financial situations, it may also not be the right solution for everyone. There are various ways to save for retirement. Just turn on the radio, TV, or go to the internet and you will see various opinions on how to save for retirement. They all seem to promote their way to being the ultimate way. However, not every person is in the same circumstance as the next. This is where retirement coaching comes in.
Retirement coaching is a topic that affects everyone. Years ago, people did not have to worry about planning for retirement because they did not live much past retirement. Now, it is just the opposite. Today the big problem is that people may out live the money they did accumulate. So, we show that it is very important that they make a commitment to paying themselves first. Time and compound earnings can have an almost magical effect. However, procrastination is a major roadblock to successful retirement planning. We help by providing the education people need to make an informed decision and for those who seek us out to help with their investment management we help them implement the plan that fits their needs and then we monitor the plan with regular updates.
For much of the 20th century, retirement in America was traditionally defined in terms of its relationship to participation in the active work force. An individual would work full-time until a certain age, and then leave employment to spend a few years quietly rocking on the front porch. Declining health often made retirement short and unpleasant. Retirement planning, as such, typically focuses on saving enough to guarantee minimal survival for a relatively brief period of time.
More recently, however, many individuals are beginning to recognize that for a number of reasons, this traditional view of retirement is not longer accurate. Some individuals, for example, are voluntarily choosing to retire early, in their 40s or 50s. Others, because they enjoy working, choose to remain employed well past the traditional retirement age of 65. And, many retirees do more than just rock on the front porch. Retirement is now often defined by activities such as travel, returning to school, volunteer work, or the pursuit of favorite hobbies or sports.
This changed face of retirement, however, with all of its possibilities, does not happen automatically. Many of the issues associated with retirement, such as ill health, and the need to provide income, still exist. With proper coaching, however these needs can potentially be met.
Developing a successful retirement plan involves carefully considering a wide range of issues and potential problems. Finding solutions to these questions often requires both personal education and the guidance of a knowledgeable coach. The key is to begin planning as early as possible.
Give us a call or e-mail Mark today to get starting with your personal retirement plan.